Go to Jeff Salisbury LWGate Home Page.From: Sol Mayer <smaye1211@yahoo.com>
Subject: Re: [CANSLIM] Opinion on IFF
Date: Fri, 10 Jan 2003 06:54:07 -0800 (PST)
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- --0-923834402-1042210447=:65354 Content-Type: text/plain; charset=us-ascii Can someone out there help me set up the multex screener to screen for canslim stocks with WON criteria? Spencer48@aol.com wrote:Cindy: When we are in a problematical market (ie. presently-while maybe not a bear, not yet a bull), I will generally look at the weekly for buy points (I'm hoping to spot an uptrend); the daily chart usually is too volatile and untrustworthy. I trust the weekly, in a bear or tight ranging market, to be more reliable. I don't have any data to support this feeling, but it does seem common-sensical to me: If a stock Breaks Out on high volume on a weekly basis (and doesn't retrace during the week of the BO), then its future up-path I believe will be more reliable (and predictable). Thus, NBTY on the daily chart has indeed broken out-and I would wait for the retracement (seeing that the retracement doesn't go below the pivot point-and it does so on low volume). However, notice that on the weekly it has broken out ONLY this past week. I'd wait to see how it closes Friday. If it is still above its breakout point, then I will go to the daily for my final analysis and see how it is holding up (declining on lo volume, or hi volume price-falls where the stock ends near the top of its range [this indicates, to me, fund/institutional support] ) I don't know that I'd choose IFF even if the industry picks up. WON says that one should choose the strongest stocks in a strong industry. Also, I believe I read somewhere that WON says that lagging stocks in a strong industry are unlikely to become the leaders in that industry (unless, I guess, they have some new product or marketing scheme). IFF doesn't strike me as that type of company. jans In a message dated 1/9/2003 2:00:56 PM Eastern Standard Time, uptickchick2003@yahoo.com writes: << Thanks for your response. I admit I didn't look very closely at the fundamentals myself because I rely on IBD to do that for me. Shame on me. :) If NBTY continues in an uptrend, my thinking is that it will pull IFF with it. My plan would be to get in at the buy point and ride up for the short term as long as I don't get any negative signals and as long as NBTY stays strong. Alternatively, if I decide on NBTY it appears that I will have to wait for a pullback to find a buy point, right? >> - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email. - --------------------------------- Do you Yahoo!? Yahoo! Mail Plus - Powerful. Affordable. Sign up now - --0-923834402-1042210447=:65354 Content-Type: text/html; charset=us-ascii <P>Can someone out there help me set up the multex screener to screen for canslim stocks with WON criteria? <P> <B><I>Spencer48@aol.com</I></B> wrote: <BLOCKQUOTE style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #1010ff 2px solid">Cindy:<BR><BR>When we are in a problematical market (ie. presently-while maybe not a <BR>bear, not yet a bull), I will generally look at the weekly for buy points <BR>(I'm hoping to spot an uptrend); the daily chart usually is too volatile and <BR>untrustworthy. I trust the weekly, in a bear or tight ranging market, to be <BR>more reliable. I don't have any data to support this feeling, but it does <BR>seem common-sensical to me: If a stock Breaks Out on high volume on a weekly <BR>basis (and doesn't retrace during the week of the BO), then its future <BR>up-path I believe will be more reliable (and predictable). <BR><BR>Thus, NBTY on the daily chart has indeed broken out-and I would wait for <BR>the retracement (seeing that the retracement doesn't go below the pivot <BR>point-and it does so on low volume). However, notice that on the weekly it <BR>has broken out ONLY this past week. I'd wait to see how it closes Friday. <BR>If it is still above its breakout point, then I will go to the daily for my <BR>final analysis and see how it is holding up (declining on lo volume, or hi <BR>volume price-falls where the stock ends near the top of its range [this <BR>indicates, to me, fund/institutional support] )<BR><BR>I don't know that I'd choose IFF even if the industry picks up. WON <BR>says that one should choose the strongest stocks in a strong industry. Also, <BR>I believe I read somewhere that WON says that lagging stocks in a strong <BR>industry are unlikely to become the leaders in that industry (unless, I <BR>guess, they have some new product or marketing scheme). IFF doesn't strike <BR>me as that type of company.<BR><BR>jans<BR><BR><BR>In a message dated 1/9/2003 2:00:56 PM Eastern Standard Time, <BR>uptickchick2003@yahoo.com writes:<BR><BR><< Thanks for your response. I admit I didn't look very closely at the <BR>fundamentals myself because I rely on IBD to do that for me. Shame on me. :) <BR>If NBTY continues in an uptrend, my thinking is that it will pull IFF with <BR>it. My plan would be to get in at the buy point and ride up for the short <BR>term as long as I don't get any negative signals and as long as NBTY stays <BR>strong. Alternatively, if I decide on NBTY it appears that I will have to <BR>wait for a pullback to find a buy point, right? >><BR><BR>-<BR>-To subscribe/unsubscribe, email "majordomo@xmission.com"<BR>-In the email body, write "subscribe canslim" or<BR>-"unsubscribe canslim". Do not use quotes in your email.</BLOCKQUOTE><p><br><hr size=1>Do you Yahoo!?<br> <a href="http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Yahoo! Mail Plus</a> - Powerful. Affordable. <a href="http://rd.yahoo.com/mail/mailsig/*http://mailplus.yahoo.com">Sign up now</a> - --0-923834402-1042210447=:65354-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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